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Overview

STEEL DYNAMICS INC

STLDNASDAQMaterialsSteel Works, Blast Furnaces & Rolling Mills (Coke Ovens)CIK 0001022671S&P 500

Latest 10-K: FY2025, filed Feb 27, 2026 · Open the 10-K (Inline XBRL) ↗

Revenue
$18.18B
3.6%YoYup from FY2024
TotalRevenue
Gross profit
$2.39B
14.6%YoYdown from FY2024
GrossProfit
Operating income
$1.48B
24.0%YoYdown from FY2024
OperatingIncome
Net income
$1.19B
22.9%YoYdown from FY2024
NetIncome
Diluted EPS
$7.99
18.8%YoYdown from FY2024
EPSDiluted
Diluted shares
148.4M
5.0%YoYdown from FY2024
WeightedAvgSharesDiluted

At a glance

Growth

  • STEEL DYNAMICS INC reported revenue of $18.18B for fiscal 2025, up 3.6% from fiscal 2024.
  • Revenue grew faster than the median S&P 500 member in 2 of the last 5 fiscal years.

Profitability

  • Operating margin was 8.1% and net margin was 6.5%, against a median net margin of 12.8% across S&P 500 members for the same fiscal year.

Per share

  • Diluted EPS was $7.99, down 18.8% from the prior year.
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Written from the filed figures on this page by fixed rules — no AI.

Data as of Oct 24, 2026 · Sources: SEC EDGAR 10-K

Financial statements

Annual figures from the 10-K, most recent fiscal year first.

Income Statement

5 annual periods

Chip: YoY change.

Income Statement, annual, newest fiscal year first. 4Y CAGR: compound annual growth from the oldest to the newest year shown. Muted line: S&P 500 median change. Line under a label: how many S&P 500 companies its median rests on.
Line itemFY2025FY2024FY2023FY2022FY20214Y CAGR
Revenue
$18.18B3.6%up
S&P 500 6.4%
$17.54B6.7%down
S&P 500 4.5%
$18.80B15.6%down
S&P 500 4.8%
$22.26B20.9%up
S&P 500 10.3%
$18.41B91.7%up
S&P 500 13.8%
-0.3%
S&P 500 6.6%
Gross Profit
Median of 315 / 498
$2.39B14.6%down
S&P 500 6.8%
$2.80B30.7%down
S&P 500 5.5%
$4.05B33.9%down
S&P 500 5.2%
$6.12B14.1%up
S&P 500 8.3%
$5.36B273.8%up
S&P 500 15.7%
-18.3%
S&P 500 6.2%
Operating Income
Median of 373 / 498
$1.48B24.0%down
S&P 500 7.3%
$1.94B38.3%down
S&P 500 7.4%
$3.15B38.1%down
S&P 500 4.9%
$5.09B18.4%up
S&P 500 7.5%
$4.30B407.7%up
S&P 500 23.5%
-23.5%
S&P 500 7.2%
Net Income
$1.19B22.9%down
S&P 500 4.8%
$1.54B37.3%down
S&P 500 5.7%
$2.45B36.5%down
S&P 500 1.9%
$3.86B20.2%up
S&P 500 1.3%
$3.21B483.5%up
S&P 500 33.9%
-22.1%
S&P 500 4.1%
EPS (Diluted)
$7.9918.8%down
S&P 500 6.2%
$9.8432.8%down
S&P 500 7.9%
$14.6430.0%down
S&P 500 1.9%
$20.9234.4%up
S&P 500 1.5%
$15.56500.8%up
S&P 500 34.8%
-15.3%
S&P 500 5.6%

Balance Sheet

5 annual periods

Chip: YoY change.

Balance Sheet, annual, newest fiscal year first. 4Y CAGR: compound annual growth from the oldest to the newest year shown. Muted line: S&P 500 median change. Line under a label: how many S&P 500 companies its median rests on.
Line itemFY2025FY2024FY2023FY2022FY20214Y CAGR
Total Assets
$16.42B9.9%up
S&P 500 5.6%
$14.94B0.2%up
S&P 500 3.4%
$14.91B5.3%up
S&P 500 4.1%
$14.16B13.0%up
S&P 500 2.2%
$12.53B35.2%up
S&P 500 6.7%
7.0%
S&P 500 4.7%
Total Liabilities
Median of 357 / 498
$7.49B25.0%up
S&P 500 6.4%
$5.99B1.3%down
S&P 500 1.9%
$6.07B0.1%up
S&P 500 2.9%
$6.06B2.4%down
S&P 500 2.0%
$6.21B26.3%up
S&P 500 5.2%
4.8%
S&P 500 4.4%
Stockholders' Equity
$8.79B1.6%down
S&P 500 6.8%
$8.93B0.8%up
S&P 500 5.4%
$8.87B9.1%up
S&P 500 7.3%
$8.13B29.0%up
S&P 500 2.5%
$6.30B45.1%up
S&P 500 9.0%
8.7%
S&P 500 6.1%
Cash & Equivalents
$0.77B30.6%up
S&P 500 5.2%
$0.59B57.9%down
S&P 500 1.9%
$1.40B14.0%down
S&P 500 6.7%
$1.63B30.9%up
S&P 500 -8.6%
$1.24B9.1%down
S&P 500 -2.9%
-11.3%
S&P 500 2.0%
Total Debt
Median of 393 / 498
$4.21B†30.3%up
S&P 500 2.3%
$3.23B†5.2%up
S&P 500 0.1%
$3.07B†0.0%unchanged
S&P 500 0.1%
$3.07B†1.1%down
S&P 500 0.1%
$3.11B†0.1%up
S&P 500 0.0%
7.9%
S&P 500 3.7%

† Sum of short-term and long-term debt; the company files no total-debt line.

Cash Flow Statement

5 annual periods

Chip: YoY change.

Cash Flow Statement, annual, newest fiscal year first. 4Y CAGR: compound annual growth from the oldest to the newest year shown. Muted line: S&P 500 median change. Line under a label: how many S&P 500 companies its median rests on.
Line itemFY2025FY2024FY2023FY2022FY20214Y CAGR
Operating Cash Flow
$1.45B21.4%down
S&P 500 6.3%
$1.84B47.6%down
S&P 500 4.8%
$3.52B21.1%down
S&P 500 9.9%
$4.46B102.4%up
S&P 500 -0.7%
$2.20B123.3%up
S&P 500 10.7%
-9.9%
S&P 500 7.0%
Capital Expenditures
$0.95B49.2%down
S&P 500 5.4%
$1.87B12.7%up
S&P 500 2.8%
$1.66B82.4%up
S&P 500 11.3%
$0.91B9.7%down
S&P 500 14.0%
$1.01B16.0%down
S&P 500 8.1%
-1.5%
S&P 500 9.0%
Free Cash Flow
Median of 378 / 498
$0.50Bn/m
S&P 500 7.3%
negative: -$0.02B101.3%down
S&P 500 6.1%
$1.86B47.6%down
S&P 500 8.8%
$3.55B196.5%up
S&P 500 -11.3%
$1.20Bn/m
S&P 500 10.2%
-19.6%
S&P 500 4.9%

n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.

S&P 500 median = median of the companies in the index on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-20. This compares reported figures, not share-price returns. Methodology

Ratios & valuation

FY2025

Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.

Valuation · Earnings yield

What a dollar of market value earned

4.7%

Wall Street

on net earnings

FY2024 8.6%

2.0%

Value investor

on free cash flow

FY2024 negative: −0.1%

Gap −2.7 pts: Value-investor figure 2.7 points lower

How it’s calculated

Wall Street · on net earnings

Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)

pe_ratio (ratio table)

P/E 21.2×

Value investor · on free cash flow

(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)

free cash flow ÷ market cap

Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.

Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.

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Smart money

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Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.

Peers, filings & research

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Research Reports

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Cite this page

Data as of Oct 24, 2026. Canonical address: https://valuein.biz/data/STLD

APA-style text
Valuein. (2026, October 24). STEEL DYNAMICS INC (STLD) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/STLD
BibTeX
@misc{valuein_stld_2026,
  author = {{Valuein}},
  title = {STEEL DYNAMICS INC (STLD) financial statements, earnings power and smart-money summary},
  year = {2026},
  howpublished = {\url{https://valuein.biz/data/STLD}},
  note = {Data as of 2026-10-24; source: SEC EDGAR filings}
}
Open 10-K in SEC Inline XBRL viewer

10-K filed Feb 27, 2026 · accession 0001104659-26-021395

Agents: every figure Valuein's tools return carries a fact_id that traces to its SEC filing.

point-in-time · survivorship-free · every number traceable to its SEC filing